WSR - Washington Prime Group Inc.

Washington Prime Group Inc is a retail REIT and a recognized leader in the ownership, management, acquisition and development of retail properties.

The Company combines a national real estate portfolio with an investment grade balance sheet, leveraging its expertise across the entire shopping center sector to increase cash flow through rigorous management of assets and provide new opportunities to retailers looking for growth throughout the U.S.

Washington Prime Group and Shelby's Sugar Shop are registered trademarks of the Company. Trademark and patent registrations for Tangible are currently pending.

http://www.washingtonprime.com/

 

High dividend: 23.7%

Dividend history

https://www.marketbeat.com/stocks/NYSE/WPG/dividend/

 

Washington Prime Group Inc. (NYSE:WPG), which is in the reits business, and is based in United States, saw significant share price movement during recent months on the NYSE, rising to highs of $5.65 and falling to the lows of $3.99.

Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price.

A question to answer is whether Washington Prime Group's current trading price of $4.21 reflective of the actual value of the small-cap? Or is it currently undervalued, providing us with the opportunity to buy?

Let’s take a look at Washington Prime Group’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change.

Great news for investors – Washington Prime Group is still trading at a fairly cheap price.
My valuation model shows that the intrinsic value for the stock is $6.22, which is above what the market is valuing the company at the moment.

This indicates a potential opportunity to buy low.

Another thing to keep in mind is that Washington Prime Group’s share price may be quite stable relative to the rest of the market, as indicated by its low beta.

This means that if you believe the current share price should move towards its intrinsic value over time, a low beta could suggest it is not likely to reach that level anytime soon, and once it’s there, it may be hard to fall back down into an attractive buying range again.

https://uk.finance.yahoo.com/news/us-4-21-time-put-163820892.html

 

COLUMBUS, Ohio, Aug. 02, 2019 (GLOBE NEWSWIRE) -- Washington Prime Group Inc. (WPG) today announced that the Company’s Board of Directors declared a quarterly cash dividend on its common shares and operating partnership units.

A cash dividend of $0.25 per common share and operating partnership unit was declared. The dividend is payable on September 16, 2019 to shareholders and operating partnership unit holders of record on September 3, 2019.

https://finance.yahoo.com/news/washington-prime-group-board-directors-200200735.html

 

Washington Prime Group Inc. (WPG) today announced that The RoomPlace has opened at Lincolnwood Town Center, replacing a former Carson Pirie Scott (Bon-Ton Stores) location.

The beautifully-designed 84,000 SF space, which is highlighted by a large atrium, occupies two floors and combines three brands – The RoomPlace, The MattressPlace and RP Outlet. This location marks The RoomPlace’s largest store to date.

https://finance.yahoo.com/news/roomplace-opens-two-story-84-123703078.html

 

Washington Prime Group Inc. WPG was a big mover last session, as the company saw its shares rise more than 9% on the day.

The move came on solid volume too with far more shares changing hands than in a normal session.

This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $3.20 to $3.62 in the past one-month time frame.

https://uk.finance.yahoo.com/news/washington-prime-group-wpg-catches-140602066.html

 

Washington Prime Group Inc. (NYSE: WPG) today announced a new multi-tenant food and beverage venue slated to hit Columbus-based Polaris Fashion Place® in 2020. The venue will be home to an all-local culinary lineup, featuring at least two dining options at a time, with plans to incubate local food and beverage purveyors on a rotational basis.

This newly created space at Polaris Fashion Place will be adjacent to the center’s existing food hall, which has been fully leased with a dynamic mix of local, regional and national food and beverage offerings since the center opened in 2001.

A planned renovation for the existing food hall, which will see aesthetic upgrades in 2020, includes new seating and flooring, communal gathering areas and a different overall flow to the space. The new look-and-feel will encourage guests to hang out and extend their visit.

Lou Conforti, CEO and Director of Washington Prime Group, stated: “Growing up half Italian and Jewish on the west side of Chicago, two themes dominated my upbringing: Family and food. In my second floor apartment, one was as likely to feast upon chicken cacciatore and manicotti Saturday evening while Sunday’s bill of fare might consist of kreplach soup and pastrami. Rest assured, these meals were more often than not attended by a cast of beloved characters no longer with us such as my grandparents Lydia and Luigi as well as Aunts Grace and Sylvia. I’ll leave it up to you to figure out which side of the family to which the aforementioned belonged.

“Fast forward to today and while I can’t replicate the frenetic chaos of my childhood dinner table, I can assure you we are making food and beverage alternatives at our assets one heck of a lot more interesting. This means supplementing our longstanding stalwarts with local establishments that truly appreciate the eating and drinking preferences of our guests.

“Turning to Columbus, one thing for sure is they know food. As the fourteenth largest (and one of the fastest growing) cities within the US, there is a veritable smorgasbord of ethnicities which call the Capital City home. So why not serve up döner and bibimbap alongside trusted mainstays at Polaris Fashion Place? There’s also going to be a rotating convoy of food trucks to further spice things up so our guests can wash it all down with a local craft brewery beverage, alcoholic or otherwise.

“I almost forgot. It is practically sacrilege in Columbus not to end one’s meal with a buckeye. Don’t worry, we have you covered.”

Local food truck operators, food purveyors selling their goods at Columbus-area festivals and markets, or a completely new concept – these are the businesses Polaris Fashion Place is looking to attract to the new venue. These new local tenants will benefit from a team of leasing and marketing professionals dedicated to their success. Following the incubation period, the Company will work with each food purveyor to consider potentially relocating them on a more permanent basis at the center.

http://investor.washingtonprime.com...rime-group-elevates-dining-experience-polaris

 

Washington Prime Group Inc. (NYSE:WPG) shareholders should be happy to see the share price up 16% in the last month. But that is little comfort to those holding over the last half decade, sitting on a big loss. In that time the share price has delivered a rude shock to holders, who find themselves down 77% after a long stretch. Some might say the recent bounce is to be expected after such a bad drop. But it could be that the fall was overdone.

https://uk.finance.yahoo.com/news/washington-prime-group-nyse-wpg-191531902.html

 

Washington Prime Group Inc. (WPG) today provided an update on previously announced strategic transactions, demonstrating continued ability to access capital to reduce corporate debt and satisfy ongoing redevelopment efforts.

In addition to approximately $68.1 million of net loan proceeds raised during the third quarter of 2019 from the refinancing of four open air assets, Washington Prime Group (the “Company”) received approximately $42.4 million of net proceeds from the sale leaseback transaction during the fourth quarter of 2019.

https://finance.yahoo.com/news/washington-prime-group-announces-refinancing-120000548.html

 

Washington Prime Group (WPG) came out with quarterly funds from operations (FFO) of $0.28 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to FFO of $0.37 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an FFO surprise of 3.70%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.28 per share when it actually produced FFO of $0.27, delivering a surprise of -3.57%.

Over the last four quarters, the company has surpassed consensus FFO estimates two times.

Washington Prime Group, which belongs to the Zacks REIT and Equity Trust - Retail industry, posted revenues of $161.20 million for the quarter ended September 2019, missing the Zacks Consensus Estimate by 2.83%. This compares to year-ago revenues of $179.92 million. The company has topped consensus revenue estimates just once over the last four quarters.

https://uk.finance.yahoo.com/news/washington-prime-group-wpg-q3-235511516.html

 

I hope they will do good, if not, i will take my losses ...

I have them in both of my portfolio's, in my private port i am break-even and in my professional (biggest position) i have already a nice profit (+18%).

Kind regards.

 

Washington Prime Group Inc. (NYSE: WPG) today announced redevelopment efforts at The Mall at Johnson City, located in Johnson City, Tennessee.

The Company proactively executed an agreement in 2019 to gain control of the Sears site for planned redevelopment.

Planning for this redevelopment effort, which includes a series of initiatives to enhance the guest experience at The Mall at Johnson City, has been thoughtfully completed with input from the City of Johnson City and existing tenants.

https://uk.finance.yahoo.com/news/washington-prime-group-announces-homegoods-142000810.html

 

Washington Prime Group Announces Full Repayment of $250M Senior Unsecured Notes Maturing April 2020

Washington Prime Group Inc. (NYSE: WPG) today announced that it has repaid in full the $250 million senior unsecured notes maturing April 2020.

The aforementioned senior unsecured notes reflect the Company’s only unsecured debt maturity through the end of 2022. The Company remains well positioned to fully commit to its robust redevelopment pipeline. In fact, when considering both the recently announced dividend reset and the ability to continue to sell outparcels as well as other non-core assets, the Company anticipates being able to self-fund its redevelopment projects for the foreseeable future.

https://uk.finance.yahoo.com/news/washington-prime-group-announces-full-120000964.html